How long does something stay on my credit report?

Items placed on your credit report will remain for 7 years, from the time they are reported to the agency. After that they must be removed.

ADDITIONAL COMMENTS

DUCK joieanew!!!!

Knowledge of the law is our only weapon!

I AM ARMED!!!!

I totally disagree with your statement below. If I am incorrect, please do me a favor and point out where in the law you are referring to.

First, the Statute of Limitations has nothing to do with the reporting length on your credit report. It applies to the legal obligation you have to collect a debt. Once the SOL has run out, you can not sue, nor does the debtor have a legal obligation to pay.

You do, however still have the right to collect the debt, and to report the debt with the collection agencies.

Below is the requirements from the Fair Credit Reporting Act.

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§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:

(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.(1)

(c) Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

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Now, as I read this, I see no clause that restarts the clock if you make a payment on your debt after it has gone to collections.

Your reply would be appreciated.

Am I wrong? What am I missing?

7 Years from the date of delinquincy on the account. Or when the statute of limitations (sol) runs out. But the statute can be renewed by applying a pmt to the account that is past the SOL. And it will be reported again.

Until you pay it off. It will follow you until the day you die!